Welcome to BuyAssociation.co.uk

Selling Privately

Most property sold in the UK is sold via estate agents, with just some 6 per cent sold privately. However, selling a property privately is a viable option for many people and is particularly recommended when you’re selling an attractive home at a realistic price in a favourable market (or any home in a booming market).

Selling your own home isn’t for the fainthearted – it’s time-consuming and a lot of work. However, it may allow you to offer it at a more appealing price, which could be an important factor if you’re seeking a quick sale.

Marketing is the key to selling your home. The first step is to get a professional looking ‘For Sale’ sign made showing your telephone number and display it in the garden or in a window. Do some
market research into the best newspapers and magazines for advertising your property, and place an advertisement in those that look most promising. Make your advertisement short and snappy using emotive words such as beautiful, stunning, enchanting, etc. (but don’t oversell it) and make it stand out by putting it in a box or bold type. If you’ve got the space (and can afford it) your advertisement should include:

• The location;

• Period of the property or building;

• Size and number of bedrooms;

• Number of reception rooms if it’s a large house;

• Any special features or attractions (huge garden, double garage, gym, sauna, Jacuzzi, hot tub, etc.);

• Whether it’s freehold or leasehold;

• The asking price;

• Your telephone number.

It may be worthwhile advertising in a specialist property magazine if you’re selling a very desirable (i.e. expensive) property, such as a large period house or a penthouse. The best places to advertise include the property section of national and local newspapers and specialist newspapers such as Dalton’s Weekly and Loot. Loot is a daily newspaper which publishes various north-west and south-east (England) editions, devoted to selling most goods and services, including property (plus rentals). Advertisements in Loot are free, although Loot also offers a special service (0870-701 7171, www.loot.com) for property sellers costing from £60 in the north-west of England or from £100 in the south-east. This includes a listing for 12 weeks in regional Loot newspapers, a website listing, a ‘For Sale’ board, and a ‘home information pack’. Loot claims that most of the properties it advertises are sold within three weeks – it’s hassle free and almost as simple
as selling a car!

You could also have a leaflet printed (with colour pictures and a floor plan) extolling the virtues of your property, which you could drop into local letter boxes or have distributed with a local newspaper (many people buy a new home in the immediate vicinity of their present home). You may also need a ‘fact sheet’ printed if your home’s vital statistics aren’t included in the leaflet mentioned above and could offer a finder’s fee (e.g. £500 or £1,000) to anyone finding you a buyer.

You should have all the papers and receipts to hand such as a copy of the deeds, warranties for any work carried out, inspections or survey reports, guarantees for major systems (such as central heating) and appliances, planning permission certificates (e.g. for extensions), bills for any work carried out, and utility, insurance and council tax bills. You may also wish to make a list of all the fixtures and fittings plus anything else (appliances, furniture, garden ornaments, etc.) that’s included in the price. You may benefit from having a survey done on your home, although prospective buyers may not believe that it’s impartial. You need to find out as much as possible about a prospective buyer, particularly their finance (do they have cash or a mortgage approval) and whether they need to sell first (and if so, whether they already have a buyer). Be careful not to sell to someone who was introduced to you by an estate agent. When selling a home yourself, you will need to engage a solicitor or licensed conveyancer to complete the sale.

With a bit of effort and practice you may make a better job of marketing your home than an agent! Unless you’re in a hurry to sell, set yourself a realistic time limit for success, after which you can try an agent. Once you’ve found a buyer and the price has been agreed, all you need to do is contact your solicitor and let him do the rest.

© Survival Books Limited 2005

“Buying, Selling & Letting Property” 2nd Edition, David Hampshire.
Reproduced with the permission of Survival Books Limited.

Further information on this topic can be found in “Buying, Selling & Letting Property” 2nd edition, by David Hampshire.

For extensive, annually updated information about buying, selling and letting property, you can purchase this book at www.survivalbooks.net

More pages

Page 1:

Calculate how much you can earn - rent out your UK holiday home here

All you need for a beautiful bathroom - at affordable prices

UK property insurance from intasure - Click here for great deals and up to 40% risk related discount on UK & overseas insurance

Discounted hotel rooms in the UK - click here for Laterooms special offers

UK Investment property from just £34,500 High-quality student rooms in an emerging market with 10% net yield guaranteed

Holiday homes to rent - across the UK & Ireland

Advertise Your English Rental Property simple, effective and affordable marketing online!